Asset Management One Co. Ltd. Sells 21,203 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Asset Management One Co. Ltd. cut its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 31.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,194 shares of the technology company’s stock after selling 21,203 shares during the period. Asset Management One Co. Ltd. owned approximately 0.10% of Cogent Communications worth $3,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ipswich Investment Management Co. Inc. increased its position in shares of Cogent Communications by 0.5% during the third quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock worth $3,119,000 after acquiring an additional 185 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Cogent Communications by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock worth $400,000 after acquiring an additional 212 shares in the last quarter. Blue Trust Inc. increased its position in shares of Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after acquiring an additional 218 shares in the last quarter. Capstone Triton Financial Group LLC increased its position in shares of Cogent Communications by 3.1% during the third quarter. Capstone Triton Financial Group LLC now owns 10,401 shares of the technology company’s stock worth $790,000 after acquiring an additional 313 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Cogent Communications by 28.7% during the third quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock worth $111,000 after acquiring an additional 326 shares in the last quarter. 92.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Henry W. Kilmer sold 4,800 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.61, for a total transaction of $362,928.00. Following the completion of the transaction, the vice president now directly owns 33,800 shares of the company’s stock, valued at $2,555,618. This represents a 12.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James Bubeck sold 1,920 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $81.42, for a total transaction of $156,326.40. Following the transaction, the executive now directly owns 51,462 shares of the company’s stock, valued at $4,190,036.04. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,440 shares of company stock valued at $1,057,910. Corporate insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on shares of Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $80.25.

Cogent Communications Trading Up 0.0 %

Shares of CCOI stock opened at $83.44 on Thursday. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The company has a 50-day simple moving average of $76.32 and a two-hundred day simple moving average of $76.65. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 106.97 and a beta of 0.40.

Cogent Communications Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.